Global Markets:
- Asian Stock Markets : Nikkei up 0.59%, Shanghai Composite up 0.08%, Hang Seng up 0.09%, ASX up 0.65%
- Commodities : Gold at $1843.40 (+0.15%), Silver at $23.57 (+0.61%), Brent Oil at $79.15 (+0.58%), WTI Oil at $74.15 (+0.65%)
- Rates : US 10-year yield at 3.705, UK 10-year yield at 3.580, Germany 10-year yield at 2.265
News & Data:
- (USD) ADP Non-Farm Employment Change 235K vs 152K expected
- (USD) Unemployment Claims 204K vs 230K expected
Markets Update:
Asian stock markets are trading mostly higher on Friday, despite the broadly negative cues from Wall Street overnight, with traders remaining largely cautious after data showing stronger than expected US private jobs growth points to continued strength in the labor market, which will see the lower interest rate hikes to continue. Asian markets ended mostly higher on Thursday. Traders also await the key U.S. monthly jobs data due later in the day that could influence the US Fed’s policy trajectory.
The Japanese stock market is notably higher on Friday after opening in the red, extending the gains in the previous session, with the benchmark Nikkei 225 moving to a tad below the 26,000 mark, as traders reacted to domestic data that showed services sector activity growth for showed a fourth-consecutive month in December. The Australian stock market is modestly higher, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying below the 7,100 level, boosted by gains in mining and energy stocks amid a rebound in commodity prices.
The dollar index, which measures the greenback against six counterparts including the yen and euro, gained 0.8% to 105.20, and earlier touched 105.31 for the first time in a month. Crude oil futures settled higher on Thursday, rebounding from recent losses, after data showed gasoline and distillate stockpiles dropped in the week ended December 30th.
Upcoming Events:
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 10:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 01:30 PM GMT – (CAD) Employment Change
- 01:30 PM GMT – (CAD) Unemployment Rate
- 01:30 PM GMT – (USD) Average Hourly Earnings m/m
- 01:30 PM GMT – (USD) Non-Farm Employment Change
- 01:30 PM GMT – (USD) Unemployment Rate
- 03:00 PM GMT – (CAD) Ivey PMI
- 03:00 PM GMT – (USD) ISM Services PMI
